五大因素导致市场短期调整，中期向好的逻辑并未发生改变

Market Overview - The market experienced a volatile pattern last week, with the Shanghai Composite Index fluctuating around the 3400 point mark before retreating again [2][3][16] - Key factors contributing to the market's short-term decline include heightened geopolitical tensions, particularly in the Middle East, which increased risk aversion among investors [2][16] - The 3400 point level has historically been a strong resistance zone, with significant selling pressure from trapped investors, leading to insufficient buying momentum to break through [2][16] - Economic recovery remains weak, with May's PMI in contraction territory and ongoing deflationary pressures in PPI, despite favorable policy measures aimed at boosting consumption [2][16] Mid-term Outlook - Despite the short-term setbacks, the mid-term outlook for the market remains positive, supported by clear domestic policy directions and coordinated fiscal and monetary policies [3][17] - The overall market valuation is still considered reasonable, suggesting that any market corrections could present opportunities for investors to accumulate quality stocks [3][17] Sector Performance - The oil and gas sector saw significant gains, driven by geopolitical events that pushed international oil prices higher [9][10] - Precious metals also experienced a rally, influenced by ongoing geopolitical tensions and lower-than-expected inflation data in the U.S., which increased expectations for potential interest rate cuts by the Federal Reserve [10][11] - Aerospace and military-related stocks performed well, with ongoing government support for defense spending and geopolitical risks potentially acting as catalysts for future growth [11] - The rare earth permanent magnet sector showed strong activity, buoyed by government export control measures that are expected to enhance pricing and profitability [12] Investment Strategy - Investors are advised to avoid impulsive trading strategies and consider a high sell-low buy approach, particularly for stocks that have seen significant price increases [4][18] - Focus areas for future investments include sectors such as brokerage firms, high-dividend stocks, and consumer sectors, particularly those catering to the aging population and younger consumers [4][18] - Growth sectors like robotics, semiconductors, AI, and digital economy are also recommended for attention during market dips [4][18] - The report suggests monitoring potential mergers and acquisitions as a theme for investment, particularly in companies with anticipated restructuring news [4][18]